*MBI Properties Pty Limited v FCT – Commissioner seeks leave to appeal to the High Court that there was no increasing adjustment and no continuing supply from the purchaser of the reversion [48]

The Commissioner has lodged an application for special leave to appeal to the High Court against the Full Federal Court decision in MBI Properties Pty Limited v FCT [2013] FCAFC 112. The Full Federal Court had overturned an earlier decision and unanimously held that a taxpayer, that had purchased 3 residential apartments which were subject to leases, did not have an increasing adjustment within the meaning of Div 135 of the GST Act, as there was no continuing supply in terms of s 135-5(1).

[LTN 224, 19/11/13]